Oat Milk Market Size Worth $6.94 Billion By 2032 | CAGR: 13.6%

The global Oat Milk market size is expected to reach USD 6.94 billion by 2032, according to a new study by Polaris Market Research. The report “Oat Milk Market Share, Size, Trends, Industry Analysis Report, By Product (Flavored, Plain); By Source; By Packaging; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing prevalence of milk allergies, a growing population with lactose intolerance, and consumer preferences favoring sustainable, low-fat, and allergen-free options are driving the uptick in oat milk consumption.

On a global scale, plant-based milk stands out as the most widely consumed category among all dairy alternatives. Oat milk, closely trailed by soy milk, has garnered considerable popularity, accounting for over 50% of the total plant-based milk consumption in 2022. The rising incidence of milk allergies plays a crucial role in boosting the demand for plant-based milk worldwide. For example, oat milk, recognized for its abundant vitamins, proteins, and potassium, along with a lower calorie content compared to cow's milk, is emerging as a preferred choice. Its nutrient-rich profile positions it as an excellent substitute for dairy products.

The United States holds one of the highest obesity rates globally, with an adult obesity prevalence of 30% or higher as of November 2021. In 19 states, this prevalence is even higher, reaching 35% or more. The market's growth is further fueled by the increasing number of lactose-intolerant consumers in the country, with an estimated 30-50 million individuals identified as lactose-intolerant in 2022. To address these concerns, people are actively seeking ways to maintain fitness and adopt healthier lifestyles. Oat milk, being the second most consumed type of plant milk, is particularly popular among those aiming to lose weight or managing lactose intolerance.

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The global oat milk market underwent a significant impact due to the COVID-19 pandemic and ensuing lockdowns. The demand for plant-based alternatives witnessed an upswing during the pandemic, prompting companies to recognize the market demand and opportunities for plant-based products. Consequently, they introduced organic alternatives to cater to this demand. For instance, McDonald's launched the "McPlant" brand in 2021, featuring a diverse range of plant-based products. In a similar vein, Kroger responded to the growing consumer demand for plant-based options by adding 50 more vegan items to its Simple Truth Plant-Based brand, a line launched in September 2019 with a value of USD 2.5 billion. The increasing consumer demand for vitamins, minerals, and nutrient-rich food and beverages also contributes to the revenue growth of the oat milk market.

Oat Milk Market Report Highlights

• In 2022, the Conventional segment dominated the revenue share. Due to its cost-effectiveness, oat milk has gained extensive acceptance in the global market. Additionally, manufacturers are launching new products to enhance their market footprint.
• The flavored segment is anticipated to experience considerable growth at a noteworthy CAGR during the forecast period. Strategically targeting both health and comfort categories, the flavored product range is effectively engaging customers' interest.
• In 2022, Asia Pacific emerged as the leading market. Shifts in lifestyle, urbanization, and changing dietary preferences in Asia Pacific have led to a heightened demand for nutritious food, expected to drive market growth.
• The global key market players include Califia Farms, Danone, Elmhurst, Happy Planet Foods, HP Hood LLC, Oatly, Pacific Foods, Rise Brewing, The Coca-Cola Company.

Polaris Market Research has segmented the Oat Milk market report based on product, source, packaging, distribution channel, and region:

Oat Milk, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Flavored
• Plain

Oat Milk, Source Outlook (Revenue - USD Billion, 2019 - 2032)

• Conventional
• Organic

Oat Milk, Packaging Outlook (Revenue - USD Billion, 2019 - 2032)

• Bottle
• Cartons
• Others

Oat Milk, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Convenience Stores
• Supermarkets & Hypermarkets
• Online Retail
• Others

Oat Milk, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Oat Milk Market Report Scope